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effect in any part of the country were gathered together. A review was 

 made of the co-operative stautes, and of the decisions interpreting and ap- 

 plying these statutes. Papers were drafted and submitted to a committee 

 of attorneys, consisting of the Honorable Frederick W. Lehmann, former 

 Solicitor General of the United States; Mr. J. H. Broady, former member 

 of the commission appointed to recodify the laws of Nebraska and of the 

 Commission appointed to draft a suggested constitution for the state, and 

 an attorney for various co-operative organizations in that state for many 

 years; Judge John G. Park, former Judge of the Circuit Court in Kansas 

 City, also Corporation Counsel for Kansas City; Mr. George E. Farrand, 

 General Counsel for the California Fruit Growers Exchange and other fruit 

 organizations on the Pacific Coast; Mr. Aaron Sapiro, of San Francisco, at- 

 torney for the Raisin Growers and Prune Growers, and a number of other 

 co-operative organizations; and Mr. Thorne who acted as chairman of the 

 committee. This committee devoted a solid week working day and night 

 to a review of the papers which had been drafted. The proposed contracts, 

 charter and by-laws were then submitted to a ratification conference at Chi- 

 cago, delegates to which were selected from the principal farm organizations 

 in every state of the grain belt. After a two days' session, this convention 

 unanimously adopted without change the recommendations of the Commit- 

 tee of Seventeen. 



I have reviewed these facts simply for the purpose of showing to you 

 the great care taken to devise a plan that would prove workable and safe. 

 At the present moment the U. S. Grain Growers, Inc., is authorized to trans- 

 act business in the twenty-one leading grain states of the country. It has 

 a membership of over 48,880, and has contracts covering the grain of these 

 farmers totalling almost one hundred million bushels annually for the next 

 five years. Today it is probably the largest co-operative enterprise ever 

 launched. 



The first annual meeting, or "National Convention" of this corporation 

 will be held in Chicago on March 21st. Immediately after this it is expected 

 that a national sales agency will be established and the corporation will be- 

 gin the transaction of business. At that time it will probably have under 

 contract over 100 million bushels of grain, constituting perhaps the largest 

 single grain corporation in the world. 



Co-operative marketing committees have also been created by the Farm 

 Bureau to devise plans in the live stock industry, the cotton industry, the 

 fruit and vegetable industry, the milk industry, and various other businesses. 

 Other marketing organizations have been created for the collective selling 

 of agricultural products. 



Mistakes will undoubtedly be made. There has been only one man who 

 never made a mistake, and they crucified him. But if you farmers have 

 the courage to swing together, if you have the foresight to select able, broad 

 gauged, far sighted men to transact your business, we firmly believe that, 

 within the next few years, the agricultural industry will be organized for 

 business purposes as never before in our history. Similar organizations for 

 the purchases of the prime necessities of farm life must be made. 



What are the reasons causing the wide spread between the price the 

 farmer receives and the price the consumer pays? First, there is the lack 

 of adequate storage facilities; second, the lack of adequate credit; third, 

 the lack of adequate news gathering agencies and absence of collective bar- 

 gaining. These functions must be performed by organized agriculture if 

 results are to be accomplished. 



BETTEB CREDIT FACILITIES NEEDED. 



The creation of agricultural credit institutions under the ownership and 

 control of the farmers themselves must be effected. Existing governmental 

 agencies must be revised so as to meet the needs and requirements of the 

 agricultural community. 



